US retailer The Fresh Market has unveiled plans for a US$345m IPO on the Nasdaq exchange.

The Fresh Market, based in North Carolina but with 95 stores in 19 states, said earlier this week (3 May) that it would not receive any of the proceeds from the flotation.

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The selling shareholders, including members of the founding Berry family, will receive the proceeds from the IPO.

The company said its income from operations was $53.1m in 2009, an increase of 43.4% from 2008. Sales rose 8% to $861.9m.

The Fresh Market was founded by Ray and Beverly Berry and opened its first store in Greensboro, North Carolina in 1982.

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